Washington, DC -- Remember when the Chairman of the Federal Reserve, Ben Bernake and Treasury Secretary Hank Paulson were up on Capitol Hill begging for bailout money?
Do you also remember how both men repeatedly promised "transparency" and full accountability for any taxpayer-supplied bail out money.
Guess what? They lied.
For months, various news media outlets have requested lists of which banks and companies received funds and what assets they pledged as collateral for those funds. Each and every request for such information has been flatly refused by the federal reserve Board of Governors.
Just this week, the Federal Reserve told a Judge that since they are not a government agency, they do not have to obey the Freedom of Information Act. They also told a Judge the information they have is . . . . . ready for this . . . . . . . a Trade Secret!
Long story short, they got hundreds of Billions in taxpayer money and no one knows where any of it went.
I am starting to wonder if it may be time to grab up the members of the Federal Reserve Board of Governors and start knocking the living shit out of them one by one?
I'm interested in YOUR opinions. Please take the POLL in the left column of this blog which asks
"What method of "communication" would be best understood by the Federal Reserve Board of Governors to make them honor their promise of "transparency" by revealing which entities received emergency bail-out loans and what collateral was pledged for those loans?